Sequoia Financial Advisors LLC lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 18.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 565,859 shares of the bank’s stock after selling 125,343 shares during the period. Sequoia Financial Advisors LLC’s holdings in Huntington Bancshares were worth $8,856,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp lifted its position in shares of Huntington Bancshares by 4.7% during the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after buying an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after buying an additional 68,478,435 shares during the last quarter. Boston Partners boosted its holdings in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after buying an additional 3,908,927 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.
Huntington Bancshares Stock Performance
Shares of Huntington Bancshares stock traded up $0.11 during trading on Friday, reaching $17.87. The company’s stock had a trading volume of 14,157,471 shares, compared to its average volume of 19,734,146. The company has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $16.91. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The firm has a market cap of $36.22 billion, a PE ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.
Insider Transactions at Huntington Bancshares
In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have purchased 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on HBAN shares. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Stephens started coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective for the company. Jefferies Financial Group lowered Huntington Bancshares from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $21.00 to $19.00 in a report on Monday, July 6th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.
Check Out Our Latest Stock Report on HBAN
About Huntington Bancshares
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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